基于财务报表视角下天坛生物股份有限公司成长性研究

发布时间：2018-08-04 20:40

【摘要】：近年来随着上市企业数量不断增加,医药行业作为国民经济的一个重要组成部分,其上市企业数量也在迅猛增加。虽然医药行业的景气度较高,但并非所有医药上市企业都能顺应景气度高的态势而快速成长,该行业的上市企业也同样是良莠不齐,如何判断上市企业的成长性是许多投资者所关心的焦点问题。财务报表分析作为分析企业财务状况主要工具在构建企业成长性财务指标起到很重要的作用,因此在基于财务报表视角下找出影响企业成长性的影响因素主要以内在因素占多数,但成长性的影响因素是多方面的,不仅包括财务因素的影响,还包括非财务因素的影响。文章主要通过运用企业成长价值、企业成长性评价以及企业生命周期等相关理论和研究方法并结合企业财务报表相关理论,构建了影响医药上市企业成长性的指标评价体系。以财务报表反映的数据为依据,通过运用不同的报表数据分析方法找出影响企业成长性的财务指标。根据生物医药公司的特点,从财务与非财务方面构建成长性指标评价体系。财务指标主要包括4个一级指标和10个二级指标,非财务指标包括3个,分别为公司规模、市场环境、以及自主创新能力,并通过因子分析评价方法和SPASS统计软件进行验证,综合分析影响企业成长性的内外因素。其中,除财务因素外,公司规模、市场需求、国家政策、自主创新能力都在不同程度上影响公司的成长。文章主要通过对成长性指标体系的构建以及运用因子分析法对指标进行评价并结合天坛生物股份有限公司为案例,通过对该企业指标系数与行业指标系数的对比,找出影响该企业成长的问题并提出解决问题的对策及建议。这不仅有利于企业产业结构调整、盈利能力的提高：还有利于企业不断改善经营管理,提高市场竞争能力并在生物医药行业中不断的发展,从而获得成长。
[Abstract]:In recent years, with the increasing number of listed enterprises, the pharmaceutical industry as an important part of the national economy, the number of listed enterprises is also increasing rapidly. Although the pharmaceutical industry has a relatively high degree of vitality, not all listed pharmaceutical companies can adapt to the situation of high Jing tolerance and grow rapidly. The listed enterprises in this industry are also mixed. How to judge the growth of listed enterprises is the focus of many investors. As the main tool to analyze the financial situation of enterprises, financial statement analysis plays an important role in the construction of enterprise growth financial indicators. Therefore, based on the perspective of financial statements, we find out that the main factors affecting the growth of enterprises are internal factors, but the influence factors of growth are various, including not only the financial factors, but also the non-financial factors. By using the relevant theories and research methods of enterprise growth value, enterprise growth evaluation and enterprise life cycle, and combining with the relevant theory of enterprise financial statements, this paper constructs an index evaluation system that affects the growth of pharmaceutical listed enterprises. Based on the data reflected in the financial statements, this paper finds out the financial indicators that affect the growth of enterprises by using different data analysis methods. According to the characteristics of biopharmaceutical companies, a growth index evaluation system is constructed from financial and non-financial aspects. Financial indicators mainly include 4 first-class indicators and 10 second-class indicators, while non-financial indicators include three, which are company size, market environment, and independent innovation ability, respectively, and are verified by factor analysis and evaluation method and SPASS statistical software. Comprehensive analysis of internal and external factors affecting the growth of enterprises. Besides financial factors, company size, market demand, national policy and independent innovation ability all affect the growth of the company to some extent. This paper mainly through the construction of the growth index system and the use of factor analysis to evaluate the indicators and combined with Temple of Heaven Biological Co., Ltd. as a case, through the comparison between the index coefficient of the enterprise and the industry index coefficient. Find out the problems that affect the growth of the enterprise and put forward the countermeasures and suggestions to solve the problems. This is not only conducive to the adjustment of the industrial structure and the improvement of profitability, but also to the continuous improvement of management, the improvement of market competitiveness and the continuous development in the biomedical industry.
【学位授予单位】：哈尔滨商业大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F406.7;F426.72

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